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Market Comments for July 24, 2014

 

Yesterday was a another gap up and narrow range green bar left behind on the daily charts of both the QQQ and the SPY. No surprise as this is exactly what was called for. There is not much new to report today other than to expect this continuing pattern until it changes. There is still nothing out there that will prevent the market from grinding higher. This pattern will only die from exhaustion and there is no sign of that at the moment either.